Banco Solidario S.A.
Status: Proposed investmentWhy disclosure?
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In case of questions
We welcome feedback on this proposed investment opportunity for FMO. The ending of the proposed investment phase is indicated on the right side of this page. In case of questions, please contact us at disclosure@fmo.nl
Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our prospective customer?
Banco Solidario S.A. ("BancoSol") is the largest microfinance institution (MFI) in Bolivia and has grown to be one of the leading microfinance banks in Latin America over the past 20 years. BancoSol has been a client of FMO since 1996, and FMO has provided several loans to the bank over the years. FMO currently holds a 14.23% minority stake in BancoSol.
What is our funding objective?
FMO will invest to increase its minority stake in BancoSol, a long-standing client and leading microfinance bank in Bolivia, at an attractive, seller-driven valuation that is materially below intrinsic value. The transaction is expected to preserve balanced, mission-aligned governance while improving risk-adjusted returns and positioning FMO for an orderly exit from a core financial-inclusion asset.
Why do we want to fund this investment?
The management of BancoSol has an impressive track record of growing the business in a sustainable manner while providing financial services to low-income individuals. BancoSol has a history of innovation and was the first bank in Bolivia to introduce e-banking, mobile branches, mini-agencies and many other developments. Other key shareholders in the bank are ACCION and IFDK, which provides for a group of well-aligned and strong shareholders with a mission to support financial inclusion.
What is the Environmental and Social categorization rationale?
The proposed investment in BancoSol has been categorised as environmental and social (E&S) Category C in accordance with FMO’s Sustainability Policy. The bank's activities are deemed to have minimal or no adverse E&S risks and/or impacts. As part of the investment, BancoSol will be required to apply the EDFI Exclusion List and Bolivian E&S laws and regulations. FMO analyses risks from different perspectives and assessments. In the case of microfinance investments, the E&S classification is typically low because the exposure generally is limited to retail and micro-entrepreneurs. The risks that might come with microfinance investments, such as, among others, over-indebtedness, transparency of interest rates, and responsible pricing, are covered by FMO in other assessments such as the Client Protection Principles (CPPs). In case of high contextual risk, a human right assessment can be carried out.
More investments
| Date | Total FMO financing |
|---|---|
| 10/26/2017 | USD 3.09 MLN |
- Website customer/investment
- https://www.bancosol.com.bo/
- Region
- Latin America & The Caribbean
- Country
- Bolivia, Plurinational State of
- Sector
- Financial Institutions
- Publication date
- 4/23/2026
- Deadline for feedback
- 5/23/2026
- Total FMO financing
- USD 2.00 MLN
- Funding
- FMO NV
-
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - C